Seminar paper from the year 2019 in the subject Economics - International Economic Relations, University of Nigeria, course: ECONOMICS, language: English, abstract: This paper deals with the composition and constituents of capital flights, its implications as well as theoretical expositions and praxis. Virtually, all macroeconomic sage, as well as, most scintillating economists stress that Nigeria's economic somnambulism and financial crunch is consequent upon the following; dwindling of oil price in the international market, undiversified economy, unchecked inflation, high rate of unemployment and a little emphasis on the adverse effect of exchange rate volatility on economic growth, without a clear consideration of how capital flight contributes to the economic mess in Nigeria. Put differently, many scholars have actually exposed how the aforementioned macroeconomic variables are responsible for economic melt-down, but, the backwash of illegal financial exodus (capital flight) on the effeteness of Nigerian economy appears to have been jettisoned. Capital flight, no doubt, had remained conceptually an elusive phenomenon. This is because it seems unclear what differentiates capital flight from normal capital outflows. So, capital flight is one of the terms that suffer from problems of definition and is therefore prone to various interpretations and applications. In fact, so confused is the term that many researchers in international economics, in attempting to give empirical support become guilty of the concept and as a result thrive on barefoot empiricism and outlandish intellectual circumvention.
About the Author: Ugwuja, Oliver Chinonso is a financial and Business Analyst, a Chartered Manager certified by Nigerian Institute of Management and a certified Safety Officer.. He has been a research consultant since 2016. His position has been of immense help to many scintilating researchers in economics and other related disciplines. His management professsion has helped companies to grow and his writing skill has attracted sponsorship to a lounge where he worked as an inventory controller/internal audit. Oliver Chinonso holds associate membership of different professional bodies which include Chartered Institute of Environmental Health and Safety, (ACIEHS), State of Nevada, USA, Chartered Institute of Customer Relationship Management (ACICRM) and a Graduate of NIM. All these notwithstanding, he aims to reach to the level of becoming one of the giant decision makers in the global economy. Nonso, as he is popularly called, hails from Ejuona Obukpa, Nsukka in Enugu State, Nigeria. His educational background started in Community Primary School, Nkalagu-Obukpa where he obtained his First School Leaving Testimonial (FSLT) in 2006. He also Futhered his Post Primary Education at Saint Teresa's College, Nsukka and graduated as one of the best students in the West African Senior School Certificate Examination (WASSCE) of 2012. He did not stop at that, he, as a result of the love and passion for advancement, went to the University of Nigeria, Nsukka where he studied Economics and graduated with the grade of Magna cum Laude (Second Class Upper Divison Level). While in the University, he joined a Policy Analysis and Research Group and because of his power in logistics and Philosophy, he was given an award as the Critic of the year, 2017. As if that was not enough, Nonso offered so many other Professional Diploma Courses consisting of Graduate Diploma in Health Safety and Environment (HSE) State of Nevada, USA, Post graduate Diploma in Customer Relationship Management from the globally accredited Chartered Institute of Customer Relationship Management.